OTPless elevates Satyam Nathani as CEO; Bhavik Koladiya to retire
The other co-founder Tanmay Sagar is now the chief operating officer of OTPless.
2 min read
Identity and access management startup OTPless has elevated co-founder Satyam Nathani as chief executive officer. The other co-founder Tanmay Sagar will be the chief operating officer.
The current CEO of OTPless Bhavik Koladiya has decided to retire.
BharatPe founder Bhavik Koladiya started OTPless, along with two BharatPe founding members Nathani and Sagar, in 2023. The company offers SDKs and APIs for Silent Network Authentication (SNA), WhatsApp Authentication, Device Intelligence and Passkeys, helping businesses improve user conversion while reducing fraud. The company authenticates more than 300 million mobile users on its platform. It counts Meesho, Navi, PhysicsWallah, ShareChat, Shiprocket, ixigo and Zepto among its clients.
The platform has been scaled to more than 300 million users and Rs 36 crore in annualised revenue, representing 2.5x growth over the previous year, the company said in its statement. OTPLess -- a 12-member startup -- claims to have been profitable for the past two quarters.
The company has raised $6.5 million from Venture Highway, White Venture, FJ Labs, SIDBI and Piper Serica, and is backed by angel investors like Samir Sood, Kunal Shah, Amrish Rau, Jiten Gupta, Utsav Somani and Amit Jain.
"I am super excited to see Satyam and Tanmay lead OTPless from the front into its next phase of innovation and growth. Over the decade, I have seen what they can do, and I can't wait to see them build a world-class authentication, identity and payments company from India," Koladiya said.
"What lies ahead of us is both an opportunity and a responsibility to reimagine how people identify, authenticate and transact on the internet. I couldn't be more excited to build on the strong foundation we have laid and lead OTPless through its next phase of transformation," Nathani added.